IoM Consults On Customs And Excise Changes

by Jason Gorringe, Lowtax.net, London
09 February, 2017

The Isle of Man Treasury has issued a consultation document inviting views on proposed amendments to the island's customs and excise laws.

The proposed amendments, which are contained in the Customs and Excise Bill 2017, are intended to ensure the island's customs legislation continues to be able to cope with existing and anticipated developments, and to meet certain requirements or recommendations following the Council Of Europe's MONEYVAL evaluation of the island's framework in 2016.

The amendments proposed by the Customs and Excise Bill 2017 are to the Customs and Excise Management Act 1986, the Customs and Excise Act 1993, and to the Terrorism and Other Crime (Financial Restrictions) Act 2014 in respect of UN and EU sanctions.

Responses should be submitted to the Isle of Man Customs and Excise Division by March 24, 2017.

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